Ogota Motors Private Limited Vs Falcon Auto Engineering Private Limited (NCLT Chandigarh)
NCLT Chandigarh held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Falcon Auto Engineering Pvt. Ltd. [Corporate Debtor] admitted as operational debt and default established.
Facts- This petition has been filed on 26.09.2024, by Ogata Motors India Private Limited (Applicant) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the ‘Code’) for initiating Corporate Insolvency Resolution Process (‘CIRP’) against Falcon Auto Engineering Private Limited (Corporate Debtor). The default amount stated by the applicant is Rs. 3,47,05,653/- and its date of default is dated 25.10.2023.
Conclusion- This Adjudicating Authority is satisfied that an operational debt of ₹ 3,47,05,653/- stands established as due and payable by the Corporate Debtor towards the supply of goods made by the Operational Creditor, duly supported by invoices, running ledger account, GST records, email communications, and bank certificate. There has been a clear default in payment of debt. The Corporate Debtor has also failed to raise any pre-existing dispute within the meaning of Section 8(2) of the Code prior to issuance of the statutory demand notice dated 24.06.2024. Despite due service of statutory demand notice at the registered office, on the directors, and through email, no reply was filed by the Corporate Debtor. Even after repeated opportunities and despite the ex parte order passed by this Tribunal, the Corporate Debtor failed to file any application or reply, demonstrating lack of bona fides.
